OF THE SCIENCE OF POLITICAL ECONOMY. 27 
science deserves general attention, and the claims it has on the espe- 
cial study of large classes of society. Since the conditions favoura- 
ble to the accumulation of wealth, the relations of capital and labour, 
the nature and principles of commerce, the effects of different modes 
of taxation which may be employed in raising the contributions 
required for the public service, the effects of attempts to direct 
industry into particular channels, or in any way to interfere with its 
freedom—the relation of different kinds of industry to the general 
good—the causes of poverty and the justice and utility of public 
action for its relief, are among the subjects of investigation belonging 
to this science, upon which it endeavours to throw the light of know- 
ledge and reason so as to elicit principles that may guide our course, 
it would be difficult to say who those are, who are not concerned in 
such inquiries. Undoubtedly the statesman to whom his fellow- 
citizens have committed the immediate control of public affairs: the 
merchant and manufacturer who risk their capital in the production 
or conveyance of what they believe to be in demand: the tradesman 
who would take an enlightened and well regulated interest in the 
prosperity of his class: the clergyman who represents, and to some 
extent directs the charitable feeling of those to whom he ministers, 
and would desire to express and guide it wisely: the lawyer who looks 
at his profession in a philosophic spirit, and studies the effects of 
those social regulations with which he is obliged to be peculiarly 
acquainted, are all of them bound to endeavour to know what can 
be known of political economy, and are urged by powerful motives 
not to neglect its study. It may be supposed that their employ- 
ments and the direction given to their thoughts, will necessarily 
make, at least the more intelligent and sagacious among them, good 
judges on the questions which may arise in their several spheres. 
The fact is on the contrary that their position exposes each class to 
peculiar prejudices and delusions, in order to dissipate which, a course 
of study is required which shall commence with first principles, 
consider the facts accumulated in their proper order and connection, 
unfold results argumentatively or historically, in cases where our 
selfishness cannot interfere, and deduce a series of well connected 
principles which may be taken as rules for action, to be authorita- 
tively applied where immediate inclination or the feeling of the mo- 
ment would lead us a different way. 
It may possibly be the case that thus far very few from among the 
